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Possible Bearish Inside Day Candle Pattern Detected for Cerner Corp (NASDAQ:CERN)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cerner Corp (NASDAQ:CERN) based on the price action in the company's shares. Today's price range of $61.22 and $61.58 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Cerner Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 5.2% for shares of Cerner Corp based on a current price of $61.34 and an average consensus analyst price target of $64.53. Cerner Corp shares should encounter resistance at the 200-day moving average (MA) of $65.17 and support at the 50-day MA of $59.13.

In the past 52 weeks, Cerner Corp share prices have been bracketed by a low of $52.05 and a high of $73.86 and are now at $61.34, 18% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 0.2%.

Cerner Corporation is a worldwide supplier of healthcare solutions and services. The Company's solutions are designed to optimize clinical and financial outcomes for healthcare organizations ranging from single-doctor practices, to health systems, to entire countries, for the pharmaceutical and medical device industries, and for the healthcare commerce system.

SmarTrend is tracking the current trend status for Cerner Corp and will alert subscribers who have CERN in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle Cerner Corp

Ticker(s): CERN